One person’s misfortune is another person’s gain at the annual Sullivan County real estate auction where foreclosed properties are for sale.

“My husband and I have come for the last several years and we’ve done pretty well with purchasing and refurbishing and renting properties. It’s a good opportunity for someone looking to make a little money in the future,” said Robin Geiger.

No price is too low as there is no minimum bid for the vacant land and seasonal homes which make up many of the sales.

Sullivan County hopes to make enough from the two day auction to cover delinquent taxes. The process is bittersweet.

“Sometimes it’s a little sad. Properties that you knew growing up, people that you knew growing up, it’s just changed and sometimes that can be jarring,” said Fallsburg town supervisor Steve Vegliante.

From the Town of Fallsburg to the Town of Cochecton, hundreds of properties are up for sale but the Sullivan County treasurer says less than a handful of these properties are people’s primary homes.

“We try to give everybody a chance to keep their property. We have a lot of programs. We have some programs other counties don’t have. We have installment agreements. We have a repurchase program but all these nice properties this year indicate that people are having a real hard time in this economy,” said Ira Cohen.

About 350 properties are on the auction block. The county is mandated by the state to conduct the yearly event and also works on behalf of the county villages.

“Can’t go wrong with the prices and you can’t compare it to anywhere else in New York state. Sullivan County is beautiful,” said James Korines.

(Source: YNN)